success story Chicago Park District Chicago, Illinois

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Paulina Boone
8 years ago
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1 Concession Management In 1996, the Chicago Park District privatized the management, leasing and development of all Chicago Park District lakefront beaches and certain regional parks. After a competitive bid process, the Concession Management agreement was awarded to Urban. Concession revenue increased 36% from 1996 to 2003; Concession sales increased 282% from 1996 to 2003; and Concession locations increased from 66 in 1996 to 110 in Urban aids the development of the lakefront through private investments. Some of the negotiations in which we have been involved include: Finalized negotiations with an operator to convert an abandoned city bus turn-around location into The Green at Grant Park, an 18-hole putting course and casual dining restaurant; Concession permit agreement and development services for a two-story fine dining seafood restaurant at Montrose Harbor. The total project budget is estimated to exceed $7,000,000; and Finalized negotiations with a restaurateur to build-out the Park Grill, a restaurant, café and retail shop at the new Millennium Park in downtown Chicago. The total project budget was approximately $6,000,000. Our focus with all of our managed properties is to upgrade the quality of the asset, and the Chicago Park District lakefront concession operators are no exception. At the North Pond in Lincoln Park, we transformed a former ice skating warming station into a fine dining, white tablecloth restaurant. It received a three star review from the Chicago Tribune. After the renovation of the North Avenue Beach Boathouse was completed in 1999, Urban negotiated permit agreements with three new concessionaires: Castaways restaurant and café; Bike Chicago rentals; and North Avenue Beach News. The results are an increase in concessionaire sales of 347% and the subsequent increase in revenue to the Park District. Urban also introduced new retail uses that greatly expanded upon the lakefront s offering in its product, services and entertainment mix: Jet ski, canoe, kayak and boat rentals Sunglass retailer Balloons, kites and beach toys Crunch Fitness center and in-line hockey rink Pedicab transportation services Skate park refreshments Children s carousel ride The Secret Garden at Berger Park

Concession revenue increased 36% from 1996 to 2003; Concession sales increased 282% from 1996 to 2003; and Concession locations increased from 66 in 1996 to 110 in 2003.

2 Chicago Park District - Revenue Comparison +4.12% +8.43% +6.16% +2.30% % -1.29% -0.5% VOLUME Percentage Increase : 36% Chicago Park District - Sales Comparison % % % % VOLUME % -7.08% % Percentage Increase : 282%

5% VOLUME 1996 1997 1998 1999 2000 2001 2002 2003 Percentage Increase 1996-2003: 36%

3 Redeveloped a city bus turnaround location into The Green at Grant Park, an 18-hole putting course and casual dining restaurant.

4 Transformed a former ice skating warming station in Lincoln Park into North Pond Cafe, a fine dining restaurant.

5 Renovated and expanded the single-use North Avenue Beach Boathouse into three new uses: Castaways restaurant, bicycle rentals, and a newsstand.

6 Revitalized a deteriorating storage facility at the Waveland/Marovitz public golf course into the Clock Tower Café.

7 Beach Toys Carousel Ride Pedicab Services Canoe and Kayak Rentals Introduced new retail uses that greatly expanded the lakefront s product, services, and entertainment mix. Crunch Fitness

3150 N. LAKE SHORE DRIVE

3150 N. LAKE SHORE DRIVE Amenities 3150 combines proximity to downtown with the amenities of the Lakeview neighborhood and unsurpassed accessibility to Lincoln Park and Chicago s stretch of parks, harbors